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The beginning of the Middle Ages is considered to be the period of the deflation promoting
To economic decline in all Europe. But even it cannot be confirmed from the full
Confidence. Generally speaking, seemingly, that trade reduction has led
To reduction of quantity of an active money, rather the reverse. In the historical
Sources we find many complaints to dearness of the goods and damage
Coins to consider a deflation only as the local phenomenon in regions, where
Wars and migrations were destroyed by the market and monetary economy began to shrivel on
To measure of how people hid the treasures. But there, where, as in Northern
Italy, trade early revives, we immediately see, how all small
Princelings start to compete with each other in coin damage - there is a process,
Which, despite a number of unsuccessful attempts of private dealers to create the best
Medium of exchange, proceeded within centuries so Italy has won
Reputation of the country with the best authors writing about money, and with the worst
But, though theologians and lawyers amicably condemned this practice, it did not stop,
Until paper money has not given to the governments even more
Cheap method of a deceit of the people. Certainly, the governments could not impose
To the people bad money, without resorting to the most severe measures. Here is how in one
The legal treatise the history of punishments for simple refusal is is short stated
To accept official money: "From Marco Polo we learn that in XIII century
The Chinese law punished for refusal to accept imperial paper money
Death. Twenty years of penal servitude, and in certain cases the death penalty, were
Punishment for refusal to accept the French bank notes. The early English right
Orders to consider refusal to accept the governmental money as
High treason. During an epoch of the American revolution refusal of reception of banknotes
The continental Congress it was considered as the hostile certificate and sometimes conducted to
To loss of the right to debt collecting "
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